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Author Topic: Formula to calculate mining profit  (Read 548 times)
doni8125
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March 16, 2018, 05:49:03 PM
 #1

Hello,

What calculation formula should I use to calculate mining profit for various algorithms? X11, Neoscrypt, CryptoNight and all others? Or that formula is the same for all algos. Whattomine and other profit calculators I know.
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gotminer
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March 16, 2018, 07:14:19 PM
 #2

Mined coin - hardware and electricity cost = mining profit

Ok, I want you to walk back in there and very calmly, very politely tell the risk assessors to fuck off! -Mark Baum
dhouse
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March 16, 2018, 07:37:46 PM
 #3

Uh, if you know of whattomine, what are you asking for?
doni8125
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March 16, 2018, 09:08:54 PM
 #4

because I want to calculate everything by myself. But don't know the formula.
Lantic_Mining
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March 16, 2018, 11:00:37 PM
Merited by paxmao (1)
 #5

((Your Hashrate / Network Hashrate) * (Block Reward * Block Time) * Coin Price) - (Price per kWh * Rig kWh Consumption) = Your expected net profit

Is that what you mean?

Depends on the luck of your pool whether you make exactly what your percentage of the network hashrate would suggest but take it over a long enough period and it will be right.

The formula would be the same for all algos but you would need to know what hashrate your rig(s) will produce on the different ones - putting your cards into Whattomine or Crypto-Coinz will give a rough idea of that.

Regards,


Steve
retard75
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March 16, 2018, 11:58:21 PM
Merited by paxmao (1)
 #6

Coins Per Day

Ethash      YourHashRate_in_MHs * BlockReward * 86400 * 10^6 / Difficulty

Cryptonight   YourHashRate_in_KHs / Difficulty * BlockReward * 86400 * 1000    

Equihash           YourHashrate / NetHashRate / BlockTime * 86400 * BlockReward    
 
{   Remark: In case of Equihash the NetHashRate is calculated by  Difficulty / BlockTime * 2^13,
     in Ethash by  Difficulty / BlockTime and in other algos the NetHashRate is calculated by Difficulty / BlockTime * 2^32
}

Most other algos (/w many exceptions, lol)  YourHashRate_in_MHs * BlockReward * 86400 * 10^6 / (Difficulty * 2^32)


Your profit/day is CoinsPerDay*CoinPrice minus PowerConsumption*EnergyPrice


That's all I got.

philipma1957
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March 17, 2018, 12:11:37 AM
Last edit: March 17, 2018, 12:40:24 AM by philipma1957
Merited by paxmao (1)
 #7

Hello,

What calculation formula should I use to calculate mining profit for various algorithms? X11, Neoscrypt, CryptoNight and all others? Or that formula is the same for all algos. Whattomine and other profit calculators I know.

learn to use this calculator https://www.coinwarz.com/calculators


it is accurate for 1 diff jump into the future.



{Edit a typo}

No profit calculator works beyond a few diff jumps and price changes

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
umine
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January 22, 2019, 06:10:06 AM
 #8

And any calculator doesn't give you precise results. Whattomine just shows what should mine yesterday to get better profit. Always it should expect of 10-20% error. But the error sometimes could be in plus

oBitScape
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October 17, 2019, 06:36:03 PM
 #9

Thanks guys! This was helpful.  Grin
Ayers
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October 20, 2019, 01:13:09 PM
 #10

((Your Hashrate / Network Hashrate) * (Block Reward * Block Time) * Coin Price) - (Price per kWh * Rig kWh Consumption) = Your expected net profit

Is that what you mean?

Depends on the luck of your pool whether you make exactly what your percentage of the network hashrate would suggest but take it over a long enough period and it will be right.

The formula would be the same for all algos but you would need to know what hashrate your rig(s) will produce on the different ones - putting your cards into Whattomine or Crypto-Coinz will give a rough idea of that.

Regards,


Steve

this standard formula doesn't work on all coin, on pascal coin for example it's not working, this was made for bitcoin in the past but for new coin with complex algo it's not good, the revenue is wrong, better to use whattomine imho
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